Valero Energy Partners LP announces first asset acquisition

Valero Energy Partners LP has approved the acquisition from certain subsidiaries of Valero Energy Corporation of the McKee Crude System, Three Rivers Crude System, and Wynnewood Products System for total consideration of $154 million. The drop-down transaction is expected to close on July 1, 2014 and to be funded with the Partnership's cash on hand.

The assets to be acquired include:
◾ The McKee Crude System, located in Sunray, Texas, which has 72,000 barrels per day of throughput capacity and supplies approximately 40 percent of the crude oil processed at Valero's McKee refinery. The system consists of more than 200 miles of pipelines, 20 crude oil truck unloading sites with lease automatic custody transfer units, and approximately 240,000 barrels of storage capacity.

New Chief Executive Officer of Aker EnergyFeb 23, 2018 Jan Arve Haugan has been appointed as Chief Executive Officer of the newly established oil company Aker Energy, effective 1 March 2018. Haugan is currently the President & CEO of Kværner ASA.